Vanke Board Report Vetoed by Two Biggest Shareholders in Spat

  • Shenzhen exchange sends inquiry to China Resources, Baoneng
  • Baoneng seeks EGM to remove 10 directors from 11-member board

Two of China Vanke Co.’s major stakeholders, opposed to a $6.9 billion stock-sale plan by the developer, voted against the company’s 2015 board and supervisory committee reports at the annual general meeting, escalating an ownership tussle.

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